India's Adani Ports says Deloitte auditor resignation arguments not convincing

TL;DR

By Aditya Kalra and Munsif VengattilDeloitte decided to resign from the role amid concerns over certain related party transactions flagged in a report by U. "The Audit Committee (of Adani Ports) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," Gopal Krishna Pillai, Chairman of the Audit Committee of Adani Ports, said in the statement. This month, Adani's Ambuja Cements said it would buy a majority stake in smaller rival Sanghi Industries for up to $295 million, its first major purchase since the Hindenburg turmoil

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